Agencies Issue Proposal to Streamline Regulatory Reporting for Qualifying Small Institutions
November 7, 2018 / Source: FDIC
Press Releases
Joint Release
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For Immediate Release
November 7, 2018
Agencies Issue Proposal to Streamline Regulatory Reporting for Qualifying Small Institutions
WASHINGTON—The three federal banking agencies today invited public comment on a proposal to reduce regulatory reporting burden on small institutions by expanding the number of regulated institutions eligible for streamlined reporting. The proposal would implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
The proposal would permit insured depository institutions with total assets of less than $5 billion that do not engage in certain complex or international activities to file the most streamlined version of the Call Report, the FFIEC 051 Call Report. The agencies also are proposing to reduce by approximately 37 percent the number of existing data items reportable in the FFIEC 051 Call Reports for the first and third calendar quarters.
The Federal Reserve Board and the OCC also are proposing similar reduced reporting for certain uninsured institutions that they supervise with less than $5 billion in total consolidated assets that meet the same criteria.
All institutions, regardless of size, submit a quarterly Call Report that includes data used by regulators to monitor the condition, performance, and risk profile of individual institutions and the industry as a whole.
Comments will be accepted for 60 days after the proposal's publication in the Federal Register.
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Attachment:
Media Contacts:
Federal Reserve Darren Gersh (202) 452-2955
FDIC Greg Hernandez (202) 898-6984
OCC Bryan Hubbard (202) 649-6870
FDIC: PR-82-2018